The pros and cons of the Self Funded Search

On this episode of "The Next Step", I speak to Michael Chew. He's the Managing Director of Flywheel Effect, a self-funded search vehicle based in Melbourne, and looking for deals across Australia.

I've known Michael for about six months, since he first thought about starting a search. It's been great to get to know him and his thoughtful approach to this challenge of search. I've seen his thinking evolve as he's gone through his search: what it means for him, the businesses  he's seeking out, and for the search model more broadly.

Given that he is a self-funded searcher, I've used this opportunity to really dig into that model, as opposed to the traditional model. In the episode, we look at the pros and cons of each and try to understand what might make a searcher select one model or the other. We also consider, the pros and cons for an investor of those two models.

Over the past few months, I've spent a bit of time talking to him about his search along the way, and so this was a great opportunity for us to explore some more conceptual aspects of the search fund model. I hope you enjoy the episode.